A-Rating Affirmed and Expanded for Foundation Health's Workers' Comp Units.RANCHO CORDOVA Rancho Cordova (răn`chō kôrdō`və), uninc. residential city (1990 pop. 48,731), Sacramento co., N Calif. A suburb of Sacramento, it experienced rapid growth in the late 20th cent. Nursery products, citrus, and grains are grown, and metal doors, electron tubes, railroad equipment, and other products are manufactured., Calif.--(BUSINESS WIRE)--Aug. 28, 1996-- Foundation Health Corporation (NYSE:FH FH - Fachhochschule (German: University of applied science) FH - Facial Hair FH - Faehrtenhund FH - Faith Hill (musician) FH - Family History FH - Family Housing FH - FarmHouse (fraternity) FH - Fermanagh (Ireland) FH - Fetal Heart FH - Field Hockey FH - Field Howitzer FH - File Header FH - Fire Hydrant FH - Fisherman's Horizon (Final Fantasy VIII game) FH - Flat Head FH - Fleet Hospital FH - Flight Hours FH - Fluor Hanford) today announced that its group of managed care workers' compensation work·ers' compensation (wûr  k rz)n. insurance units has been given an A-, or Excellent, rating by A.M. Best. -0- Payments required by law to be made to an employee who is injured or disabled in connection with work. The rating applies to: -- California Compensation Insurance Company (CalComp), a leader in introducing managed care and other techniques to reduce the cost and frequency of claims for employers. CalComp is the largest private workers' compensation insurance carrier in California. -- Business Insurance Company (BICO), an affiliate of CalComp, is licensed in 49 states and currently offers managed care workers' compensation insurance products in 20 states outside of California. -- Combined Benefits Life Insurance Company (CBLIC), a subsidiary of CalComp, which currently offers fully integrated managed care workers' compensation and group health insurance products in California and Utah. A.M. Best stated: "The group's rating reflects its excellent historical operating performance and sound liquidity supported by strong cash flows." CalComp previously held an A-rating. BICO and CBLIC were not rated. "This excellent rating, now applied to our entire group, will support our sales efforts as we continue to expand our managed care workers' compensation programs in attractive markets throughout the country," said Maurice A. Costa, President and Chief Operating Officer of Foundation Health's workers' compensation group. "Our innovative programs to enhance employee productivity and reduce costs are being welcomed by employers wherever we go." Foundation Health Corporation is a Fortune 500 managed care organization with headquarters in Rancho Cordova, California. Through its HMO, insured PPO and government contracts subsidiaries the Company provides group, individual, Medicare, Medicaid and CHAMPUS CHAMPUS - Civilian Health And Medical Program of the Uniformed Services coverage for more than 3 million individuals. In addition, the Company's subsidiaries offer managed care products related to workers' compensation, behavioral health, dental, vision and prescription drugs, and administrative services for medical groups and self-funded benefits programs. CONTACT: Foundation Health Corporation Kurt Davis, (916) 631-5288 |
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